Dynamic Advisor Solutions LLC Sells 10,244 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Dynamic Advisor Solutions LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,585 shares of the oil and gas producer’s stock after selling 10,244 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Enterprise Products Partners were worth $2,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Sei Investments Co. boosted its position in shares of Enterprise Products Partners by 9.6% during the fourth quarter. Sei Investments Co. now owns 1,124,750 shares of the oil and gas producer’s stock worth $29,637,000 after purchasing an additional 98,494 shares in the last quarter. First Financial Bankshares Inc bought a new position in shares of Enterprise Products Partners during the fourth quarter worth $723,000. Pinnacle Holdings LLC boosted its position in shares of Enterprise Products Partners by 7.2% during the fourth quarter. Pinnacle Holdings LLC now owns 82,173 shares of the oil and gas producer’s stock worth $2,165,000 after purchasing an additional 5,485 shares in the last quarter. Kingfisher Capital LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $343,000. Finally, Cohen & Steers Inc. boosted its stake in Enterprise Products Partners by 2.0% in the 4th quarter. Cohen & Steers Inc. now owns 724,497 shares of the oil and gas producer’s stock worth $19,090,000 after purchasing an additional 14,130 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.18 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average is $29.12 and its 200-day moving average is $28.96. The stock has a market cap of $63.37 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.